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Tuesday, 5 April 2016

Best Mcx Commodity Tips Provider in India

Gold held losses from a two-day decline on Tuesday on worries the Federal Reserve will hike U.S. interest rates earlier than market expectations and on outflows from bullion-backed exchange traded funds.

FUNDAMENTALS

*Spot gold was little changed at $1,215.55 an ounce by 2345 GMT, after dropping 1.4 percent in the past two sessions.

* Gold had posted its biggest quarterly rise in nearly 30 years in the March quarter, rallying 16 percent as expectations faded that the Fed would move to normalise interest rates due to concerns over the global economy. The U.S. central bank raised rates in December for the first time in nearly a decade.

* The metal is highly exposed to rising rates, which lift the opportunity cost of holding non-yielding assets, while boosting the dollar.

* Gold's decline began after data on Friday showed non-farm payrolls rising by 215,000 last month, higher than expectations of 205,000, underscoring the strength in the U.S. economy.

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